2012 Comprehensive Annual Financial Report - the City of Tukwila

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CITY OF TUKWILA: 2012 CAFRBASIC FINANCIAL STATEMENTSCITY OF TUKWILA, WASHINGTONBALANCE SHEETGOVERNMENTAL FUNDSDECEMBER 31, 2012LAND ACQ. OTHER TOTALGENERAL ARTERIAL REC & PARK GOVERNMENTAL GOVERNMENTALFUND STREET DEVELOPMENT FUNDS FUNDSASSETS:CASH AND CASH EQUIVALENTS $ 6,262,710 $ - $ 1,068,126 $ 5,008,571 $ 12,339,407INVESTMENTS - - - 2,049,464 2,049,464RECEIVABLES: -TAXES 4,292,038 35,821 1,447 111,452 4,440,757CUSTOMER ACCOUNTS 772,196 - - 290,021 1,062,218DUE FROM OTHER GOVERNMENTAL UNITS 219,770 782,613 36,753 970,035 2,009,171RESTRICTED ASSETS: - -CASH AND CASH EQUIVALENTS - 394,755 - 164,312 559,067TOTAL ASSETS $ 11,546,714 $ 1,213,189 $ 1,106,326 $ 8,593,854 $ 22,460,083LIABILITIES AND FUND BALANCES:ACCOUNTS PAYABLE 676,734 712,108 15,286 280,346 1,684,475ACCRUED WAGES & BENEFITS 1,301,140 17,750 351 16,162 1,335,403REVENUE COLLECTED IN ADVANCE 695,979 - - - 695,979OTHER CURRENT LIABILITIES 200,360 - 500 100,000 300,860DEFERRED REVENUE 293,944 - - - 293,944TOTAL LIABILITIES 3,168,158 729,858 16,137 396,508 4,310,661FUND BALANCES:RESTRICTED FOR: -HOTEL MOTEL TAX - - - 710,707 710,707RESIDENTIAL STREET IMPROVEMENTS - - - 1,046,772 1,046,772ARTERIAL STREET IMPROVEMENTS - 394,755 - - 394,755DRUG INVESTIGATION AND ENFORCEMENT - - - 85,125 85,125FIRE IMPROVEMENTS - - - 348,010 348,010GENERAL GOVERNMENT IMPROVEMENTS - - - 164,312 164,312ASSIGNED FOR:ARTERIAL STREET 88,576 - - 88,576LAND ACQ. REC & PARK DEVELOPMENT - - 1,090,188 - 1,090,188FACILITY REPLA CEMENT - - - 2,005,520 2,005,520GENERAL GOVERNMENT IMPROVEMENTS - - - 749,518 749,518PUBLIC SA FETY EQUIPMENT - - - 75,000 75,000DEBT SERVICE - - - 3,012,381 3,012,381UNASSIGNED 8,378,557 - - - 8,378,557TOTAL FUND BALANCES 8,378,557 483,331 1,090,188 8,197,345 18,149,421TOTAL LIABILITIES AND FUND BALANCES $ 11,546,714 $ 1,213,189 $ 1,106,326 $ 8,593,854 $ 22,460,083The notes to the financial statements are an integral part of this statement.36
CITY OF TUKWILA: 2012 CAFRBASIC FINANCIAL STATEMENTSCITY OF TUKWILA, WASHINGTONRECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITIONDECEMBER 31, 2012Total governmental fund balances as reported on this statement $ 18,149,420Amounts reported for governmental activities in the statement of net position are different because:The purchases method is used in Governmental Funds to account for Materials and Supplies - Inventoryamount outstanding. 389,691The cost of issuing long-term debt is amortized over the life of the debt in the statement of net position 249,721 639,412and expensed w hen paid in the governmental funds.Capital assets used in governmental activities are not financial resources and therefore not reported in the funds.Governmental funds assets 216,720,883Internal service fund assets 2,045,759 218,766,642The net pension asset resulting from contributions in excess of the annual required contribution are notfinancial resources and therefore is not reported in the funds. 336,352The City has an equity interest in tw o joint ventures. This equity interest for the provision of governmental servicesis not a current financial resource and therefore is not reported in the funds. 10,095,461Deferred revenue reported for property taxes that are current and prior year tax levies that w ere not collectedand available to pay current year liabilities 293,944Some liabilities are not due and payable in the current period and therefore are not reported in the funds.Long Term Liabilities Due Within One Year (2,261,000)Long Term Liabilities Due in More Than One Year (19,472,889)Due to Other Governmental Units (7,392,600)Unfunded Other Post Employment Benefits (4,433,326)Accrued Interest Payable (69,185) (33,629,000)Internal service funds are used by management to charge the cost of certain activities, such as health insurance and fleetmaintenance, to individual funds. The assets and liabilities of these internal service funds are included in governmentalactivities in the statement of net position. 10,638,313Amount due from Component Unit is expensed in governmental funds and recorded as a receivable in the statementof net position 860,408Net position of government activities as reported on the statement of net position $ 226,150,953The notes to the financial statements are an integral part of this statement.37
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2012 Comprehensive Annual Financial Report - the City of Tukwila

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